Local real estate developer Redport Capital, founded by Cosmin Savu-Cristescu, has announced the completion of 127 apartments in The Level Apartments project and the construction start for the new phase of the complex located in the Străulești area of northern Bucharest.
The delivered units are part of the second part of the project and have been almost entirely sold. According to the developer, 60% of the apartments were purchased in cash transactions and the rest through bank loans.
"The construction of the building (in phase three) we hope to be able to start in autumn this year with a completion date in autumn 2025. We are also preparing phase four of The Level project on the land following phase three with an estimated start date of end 2024 and delivery by end 2026," said Savu-Cristescu.
The entire complex will comprise 600 apartments plus several thousand sqm of commercial and office space, following a total investment of €60 million.
In the second phase, the apartments were priced from €1,700 per usable sqm to €2,100 per usable sqm today.
In parallel, Redport Capital is preparing to start development of the new Infinity Nord project, and work on the first two phases could start in the first half of next year, depending on the pace of obtaining documentation.
Savu-Cristescu estimates that all projects planned by the company should be completed by 2030.
Regarding apartment prices, he stressed that "prices can only go up", given the high costs of innovative building materials and the higher pay for construction workers.
